The developer Argis has acquired a plot in the Ática XXI Business Park in Pozuelo de Alarcón, which was previously for sale by Merlin Properties. This plot, of more than 5,000 square meters, will allow Argis to develop a development of 43 luxury homes. The project includes 2, 3 and 4-bedroom apartments with prices ranging from 759,000 to 1.34 million euros, and will have large terraces, private gardens, swimming pool and gym.
The change of use from office to residential has been a complicated process due to urban planning requirements from the Pozuelo City Council, but the building permit is expected to be approved in September. This transaction marks the first major change of use in the Community of Madrid following the recent regional law that facilitates the conversion of vacant offices into affordable housing.
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